Debtors and creditors: refinancing of credit as a way decision of a problem of delayed debts
Tunisia

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Refinancing of credit as a way decision of a problem of delayed debts Tunisia

What usual behaviour of borrowers who have got in inconvenient position?

Ч Practice of debt agency " NIRGOS " shows, that at all all borrowers who have got in an inconvenient financial situation, are capable to estimate soberly consequences and to make adequate decisions. Many consider to not leave for best on communication with bank, to disconnect phone, to change a place of residing and so on. However assumption that bank will forget and will forgive a duty, is greater error. Actually, if financial situation of borrower has changed and opportunity of duly entering of payments has disappeared or solvency is temporarily lost, optimum decision is reference in bank and joint search of an output from developed situation. In similar cases it is important to borrower to not lose touch with creditor because at presence of powerful reasons banks, as a rule, go on dialogue about a delay of payment or revision of schedule of payments due to increase in term of credit, reduction of sum of monthly payment and other. If borrower ceases to pay money under credit and disappears from a field of vision of creditor bank classifies it as defaulter, penal sanctions for delay are charged in full and if attempts of bank to contact debtor do not lead to desirable result, work with it is transferred collectors.

What actions bank for decision of a problem of delayed debts can undertake? Whether it is possible to extinguish it, not resorting to court?

Ч Considering significant volume of delayed debts which have formed at physical persons before credit organizations, a variety of reasons of its occurrence (from notorious irresponsibility before abolition of credit organization or leaving from a life of borrower) and necessity of management of formed problem actives, it is meaningful to mention such possible decision, as re-structuring of a duty. Practice of re-structuring cannot be named regular, however precedents are. They consist that at reference in bank of debtor having delayed credit and ready to bring powerful payment on account of its repayment, with request to reconsider sum is long bank can to go for discussion of individual conditions of return of a duty and partial write-off of penal sanctions, in case of if reason of formation of debts is objectively serious.

What else there are variants of pre-judicial work with debtors?

Ч As possible mechanism, allowing to avoid a default, it is possible to name also refinancing (differently). We Shall imagine a situation, that borrower has issued credit, then by virtue of different reasons it did not have an opportunity it to serve. It for a long time was beat out from schedule of payments, duty constantly increases due to charge of penal sanctions for delay, it receives constant reminders on necessity to extinguish debts, probably, work with it is already transferred by bank in коллекторское agency, it lives in a constant pressure. Having corrected a financial position, such borrower has an opportunity to take credit in other bank, having confirmed actual income, with purpose to extinguish previous credit. Advantage of such decision consists that it allows to extinguish delayed credit so, to stop charge of penal sanctions, to relieve itself of dialogue at a level Ђ debtor Ч creditor ї, to coordinate new schedule of payments and to issue a loan on more favourable conditions. However it more likely an exception to rules as not any bank can grant a loan to such borrower. Besides this history can have a underside when borrower, incorrectly having calculated forces, has received credit under less favourable conditions and can aggravate situation only.

Recently concession of rights of requirement under credit contract one creditor to another even more often practises. It can cause what consequences for client of bank?

Ч In such circumstances borrower, naturally, is set by questions: whether have right to concede bank rights of requirement without consent of debtor, than it will turn back for it, whether conditions of credit contract after change of creditor will change, whether debtor in bank can continue to pay? However under law concession of rights of requirement does not demand consent of debtor. Thus change of persons in obligation does not change treaty provisions. At same time attitudes of debtor and bank regarding payment of debts stop, therefore debtor is obliged to list money resources to new creditor.